Current Affairs - International

The Philippines has established Southeast Asia’s first coral larvae cryobank, marking a major step toward marine biodiversity conservation. This initiative, developed in collaboration with research institutions from Taiwan, Indonesia, Malaysia, and Thailand, aims to freeze and preserve coral larvae to protect genetic diversity. The cryobank serves as a safeguard against coral loss caused by climate change, pollution, and ocean acidification. By preserving coral species for future restoration, the Philippines is demonstrating regional leadership in reef conservation and sustainable marine ecosystem management.

Iran has approved a monetary reform plan to remove four zeros from its national currency, the rial, in an effort to simplify financial transactions and address severe inflation. With inflation rates exceeding 35% over a prolonged period, the rial’s value has significantly declined, prompting the need for this reform. The Central Bank of Iran has been given two years to make preparations, followed by a three-year transition phase. This decision reflects Iran’s attempt to stabilise its economy and restore confidence in its currency amid ongoing financial challenges.

Poland has announced a €4.7 billion investment to become part of the NATO Pipeline System (NPS), a critical infrastructure established during the Cold War to supply fuel and lubricants to NATO forces. The NPS spans approximately 10,000 kilometers across 12 countries and includes extensive storage and distribution facilities such as depots, refineries, and air bases. Poland’s participation aims to strengthen its defence logistics, enhance energy security, and contribute to NATO’s overall operational readiness and strategic resilience in Europe.

India launched UPI (Unified Payments Interface) at Lulu Group supermarkets in Qatar on 6 October 2025, led by Commerce and Industry Minister Piyush Goyal. This initiative allows over 830,000 Indian residents and tourists in Qatar to make low-cost, real-time digital payments using India’s homegrown UPI system. The project, in partnership with NPCI International Payments Ltd (NIPL), Qatar National Bank (QNB), and NETSTARS, marks Qatar as the eighth country to adopt UPI. The move strengthens cross-border trade, facilitates faster remittances, and promotes India’s fintech innovation globally while providing wider payment options for local merchants.

The 68th Commonwealth Parliamentary Conference is being held in Bridgetown, Barbados, with the theme “The Commonwealth – A Global Partner.” India’s parliamentary delegation is led by Lok Sabha Speaker Om Birla. Organised annually by the Commonwealth Parliamentary Association (CPA), the conference brings together legislators from member countries to discuss governance, democracy, and collaborative initiatives. India’s participation underscores its engagement with Commonwealth nations, allowing for exchange of best practices, strengthening diplomatic ties, and contributing to discussions on global parliamentary cooperation and development strategies across member states.